Mass. AG Calls For Scrutiny Of Salaries For CEO’s Of Charities
Attorney General Martha Coakley is calling for greater transparency in the reporting of compensation for top executive of Massachusetts charities.
Coakley made the comments after releasing a report that found the annual pay for the chief executives of 25 of Massachusetts’ largest nonprofits ranged from $487,000 to $8.8 million during a three-year period from 2009 to 2011.
Coakley acknowledged some of the state’s top employers are also not-for-profit organizations and that they have to compete with national nonprofit companies for CEO talent. But Coakley said it’s important to maintain a balance between luring top talent and staying true to a charitable mission.
Coakley said CEO compensation is complex and can include special retirement benefits not available to others in the workforce. She said CEO compensation can also vary greatly from year to year making comparisons difficult. (Associated Press)